08-02-2009, 09:55 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by ahsan_aziz_arain</i>
<br />salam dears
what is the treatment of incomes which fall under F.T.R as well as under income from other sources like dividend, profit on debt and prize bond.?
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Dear,
Those incomes, which fall under FTR are not required to be shown any where while calculating Taxable income of a Taxpayer, rather it is to be shown as a footnote.
WHT with regards to Dividend and Prize bonds are deducted as a Final Tax, since they come under FTR. However, Profit on debt is required to be shown as Income from other source ,however if the prime business of a person is to earn profit on debt i.e. banks, leasings companies, financial institutions etc., then the same shall be treated as Income From Business rather than Income from Other Source.
Best Regards,
<br />salam dears
what is the treatment of incomes which fall under F.T.R as well as under income from other sources like dividend, profit on debt and prize bond.?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear,
Those incomes, which fall under FTR are not required to be shown any where while calculating Taxable income of a Taxpayer, rather it is to be shown as a footnote.
WHT with regards to Dividend and Prize bonds are deducted as a Final Tax, since they come under FTR. However, Profit on debt is required to be shown as Income from other source ,however if the prime business of a person is to earn profit on debt i.e. banks, leasings companies, financial institutions etc., then the same shall be treated as Income From Business rather than Income from Other Source.
Best Regards,
